April Construction Spending Comes In At 0.3%, Narrowly Missing Expectations

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The Census Board reported that construction spending grew by 0.3 per cent in April, slightly below analyst expectations of 0.4 per cent.That number stayed flat from the month before, where an 0.1 per cent increase was revised higher to 0.3 per cent.

These latest numbers are unlikely to quell concerns that we are seeing a slackening in the pace of construction activity because so much work got underway during the surprisingly mild winter.

Then again, it does not necessarily suggest a slowdown either.

Growing at an annual rate of $820.7 billion, construction spending during April was 6.8 per cent higher than it was a year ago.

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